Sherri Shepherd will be leaving the ABC daytime talk show The View after failed contract negotiations and there are reports surfacing that fellow co-host Jenny McCarthy might be on her way out as well.

Sources spoke with Deadline and claimed that both sides were nowhere close in coming to an agreement during contract renewal talks, so instead, Shepherd has decided to leave the show.

"It's been seven wonderful years on The View and after careful consideration it is time for me to move on," Shepherd said in a statement. "I am extremely grateful to Barbara Walters and Bill Geddie for giving me this opportunity."

According to TMZ, there are also rumors that McCarthy and Geddie may be following her out the door. Reportedly the chemistry between the co-hosts has struggled since her addition.

"Jenny just didn't appeal to the daytime audience market. They couldn't relate to her," a source told FOX411. "There are a lot of change taking place now that Barbara has left."

Since her addition to the show, The View has also slipped slightly in the ratings, while competition The Talk has seen stronger numbers.